ReNew Energy Global Plc (NASDAQ:RNW) Stock Position Reduced by Invesco Ltd.

Invesco Ltd. lowered its holdings in ReNew Energy Global Plc (NASDAQ:RNW - Free Report) by 16.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,119,969 shares of the company's stock after selling 402,921 shares during the period. Invesco Ltd. owned about 0.58% of ReNew Energy Global worth $14,479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RNW. Barclays PLC grew its holdings in ReNew Energy Global by 382.5% in the 3rd quarter. Barclays PLC now owns 26,381 shares of the company's stock worth $166,000 after buying an additional 20,913 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of ReNew Energy Global in the third quarter valued at $11,585,000. JPMorgan Chase & Co. boosted its stake in ReNew Energy Global by 26.5% during the third quarter. JPMorgan Chase & Co. now owns 148,777 shares of the company's stock valued at $936,000 after buying an additional 31,125 shares in the last quarter. FNY Investment Advisers LLC raised its position in ReNew Energy Global by 509.0% in the fourth quarter. FNY Investment Advisers LLC now owns 50,547 shares of the company's stock worth $345,000 after acquiring an additional 42,247 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in ReNew Energy Global in the 4th quarter valued at about $107,000. 43.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Roth Mkm cut their target price on shares of ReNew Energy Global from $8.00 to $7.50 and set a "buy" rating for the company in a research note on Friday, February 21st.

ReNew Energy Global Trading Up 2.8 %

RNW traded up $0.18 during trading on Thursday, reaching $6.52. The company had a trading volume of 308,447 shares, compared to its average volume of 1,061,167. ReNew Energy Global Plc has a 12-month low of $5.15 and a 12-month high of $7.49. The firm's 50-day simple moving average is $6.13 and its 200 day simple moving average is $6.25. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 130.30 and a beta of 0.89. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.64 and a current ratio of 0.60.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.07). ReNew Energy Global had a return on equity of 1.75% and a net margin of 2.17%. The firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $20.22 billion. Equities research analysts anticipate that ReNew Energy Global Plc will post 0.15 earnings per share for the current year.

ReNew Energy Global Company Profile

ReNew Energy Global Plc generates power through non-conventional and renewable energy sources in India. The company operates through two segments: Wind Power and Solar Power. It develops, builds, owns, and operates utility scale wind and solar energy, hydro energy, and utility-scale firm power projects, as well as distributed solar energy projects that generate energy for commercial and industrial customers.